After six months of working on ways to fund the National Music Center, a group of senators released a report advocating taxing music majors and music streaming platforms at 1.75%. Barely formalized, CNM mainly supported French musicians who were laid off due to the Covid-19 crisis. And three years after its establishment, the state authority still has not fulfilled its primary task of promoting.supporting the creation of contemporary French works.
In its report, Me Bargeton states that CNM “must now fully deploy itself to fulfill its mission of bringing the music industry together, from live performance to recorded music.” According to that, It is about “French cultural domination”.. We must dive into the pockets of Spotify, Apple Music, and other Deezer, the world leader in streaming music, to save streaming and a music industry that has been disrupted by the Covid crisis.
Spotify and Apple Music should be taxed at 1.75%, according to this Senate report
For the Paris senator, this “new financing leverage, solidarity principle and redistribution within the industry”. Obviously, if the producers and independent artists are happy with such a scenario, the leaders of the group broadcast platforms strongly oppose it.
according to the newspaper echoes“CNM can recover 20 million additional resources from paid and free streaming and 6 million additional resources from classical music contribution”. The policy to impose a 1.75% flow tax is far from being approved at the executive level. If this unexpected financial win is going to benefit the industry a lot, there’s no doubt that streaming services will drive up their subscription prices. And often consumers will have to pay the difference.
